Course Overview
Contract Risk Management Course is designed to equip participants with the knowledge and skills to identify, assess, and manage risks associated with contracts in various sectors. This course covers the entire contract lifecycle, from planning and drafting to execution and closeout, ensuring that participants can effectively mitigate potential risks and safeguard their organizations' interests.
Course Duration
5 Days
Who Should Attend
- Contract Managers
- Procurement Professionals
- Project Managers
- Legal Advisors
- Risk Management Professionals
- Supply Chain Managers
- Business Development Managers
- Senior Executives involved in contract management
Course Objectives
By the end of this course, participants will be able to:
- Understand the fundamental principles of contract risk management.
- Identify potential risks in different types of contracts.
- Develop strategies to mitigate and manage contract risks.
- Enhance their skills in drafting and negotiating contract terms.
- Implement effective contract management practices to minimize risks.
- Conduct risk assessments and apply risk management techniques throughout the contract lifecycle.
- Utilize contract risk management tools and software for better oversight.
- Develop a proactive approach to managing contract disputes and claims.
Course Outline:
Module 1: Introduction to Contract Risk Management
- Overview of Contract Risk Management
- Types of Contracts and Associated Risks
- Key Principles of Risk Management in Contracts
- Case Studies: Real-world Contract Risks and Lessons Learned
Module 2: Identifying and Assessing Contract Risks
- Risk Identification Techniques
- Risk Assessment Tools and Methodologies
- Evaluating Contract Clauses and Their Implications
- Conducting a Contract Risk Assessment
Module 3: Mitigating and Managing Contract Risks
- Developing Risk Mitigation Strategies
- Risk Allocation and Transfer in Contracts
- Best Practices for Drafting Risk-Averse Contracts
- Negotiation Techniques to Minimize Risk Exposure
- Simulation: Drafting and Negotiating Contract Clauses
Module 4: Contract Management and Risk Monitoring
- Contract Lifecycle Management
- Implementing Effective Monitoring and Control Mechanisms
- Use of Technology in Contract Risk Management
- Utilizing Contract Management Software
Module 5: Handling Disputes and Claims
- Identifying Potential Disputes and Claims
- Strategies for Managing and Resolving Disputes
- Legal and Ethical Considerations in Contract Risk Management
- Developing a Comprehensive Contract Risk Management Plan
